{"id":32261,"date":"2012-01-20T22:17:43","date_gmt":"2012-01-20T22:17:43","guid":{"rendered":"https:\/\/armbanks.am\/2012\/01\/20\/234582\/"},"modified":"2024-12-15T12:54:45","modified_gmt":"2024-12-15T12:54:45","slug":"central-bank-of-armenia-intends-to-pursue-neutral-monetary-policy","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2012\/01\/20\/32261\/","title":{"rendered":"Central Bank of Armenia intends to pursue neutral monetary policy"},"content":{"rendered":"
YEREVAN, January 20. \/ARKA\/. The Central Bank of Armenia will be stuck to a neutral monetary policy in the short run, the central bank\u2019s press office reported on Friday.<\/div>\n
The banking regulator also sees no need to change this policy\u2019s directions.<\/div>\n
According to the press release, year-on-year inflation was recorded at 4.7% in December 2011, within the projected 4% (\u00b11.5%) rate.<\/div>\n
The board of the central bank also placed it on record that inflation pressures coming from the national economy are slight.<\/div>\n
Developments in the labor market, particularly the ratio of productivity to nominal salary, produce neutral effect on inflation.<\/div>\n
Budget deficit\/ GDP ratio is low despite enlargement of social spending.<\/div>\n
Tax and budget developments will not fuel inflation.<\/div>\n
Individual consumption is recovering, but slowly, without aggravating inflationary pressures.<\/div>\n
The fourth quarter\u2019s restraining tax and budgetary policy, along with lag impacts of the previous quarter\u2019s restraining policy will have a neutral impact on aggregate demand.<\/div>\n
Given the labor market\u2019s weak inflationary pressures and the neutral impacts of individual expenses, domestic demand will have a weak deflationary impact on inflation.<\/div>\n
The central bank also said that the average interest rate on government up-to-one-year bonds rose 1.71 percentage points, compared with the previous month, to 10.68%.<\/div>\n
Interest rates on repo transactions went 1.59 points up, and those on inter-banking repo deals rose 0.98 points to 11.22% and 10.24% respectively.<\/div>\n
On January 10, the central bank\u2019s board decided to leave the current 8-percent benchmark refinancing rate unchanged. The five-percent interest rate on deposits in commercial banks was left unchanged. The 11-percent pawn repo interest rate was kept pegged as well.<\/div>\n
The latest decrease was on September 6, when the regulator downed the benchmark refinancing rate 0.5 points to 8%. -0—<\/div>\n

YEREVAN, January 20. \/ARKA\/. The Central Bank of Armenia will be stuck to a neutral monetary policy in the short run, the central bank\u2019s press office reported on Friday.<\/p>\n

The banking regulator also sees no need to change this policy\u2019s directions.<\/p>\n

According to the press release, year-on-year inflation was recorded at 4.7% in December 2011, within the projected 4% (\u00b11.5%) rate.<\/p>\n

The board of the central bank also placed it on record that inflation pressures coming from the national economy are slight.<\/p>\n

Developments in the labor market, particularly the ratio of productivity to nominal salary, produce neutral effect on inflation.<\/p>\n

Budget deficit\/ GDP ratio is low despite enlargement of social spending.<\/p>\n

Tax and budget developments will not fuel inflation.<\/p>\n

Individual consumption is recovering, but slowly, without aggravating inflationary pressures.<\/p>\n

The fourth quarter\u2019s restraining tax and budgetary policy, along with lag impacts of the previous quarter\u2019s restraining policy will have a neutral impact on aggregate demand.<\/p>\n

Given the labor market\u2019s weak inflationary pressures and the neutral impacts of individual expenses, domestic demand will have a weak deflationary impact on inflation.<\/p>\n

The central bank also said that the average interest rate on government up-to-one-year bonds rose 1.71 percentage points, compared with the previous month, to 10.68%.<\/p>\n

Interest rates on repo transactions went 1.59 points up, and those on inter-banking repo deals rose 0.98 points to 11.22% and 10.24% respectively.<\/p>\n

On January 10, the central bank\u2019s board decided to leave the current 8-percent benchmark refinancing rate unchanged. The five-percent interest rate on deposits in commercial banks was left unchanged. The 11-percent pawn repo interest rate was kept pegged as well.<\/p>\n

The latest decrease was on September 6, when the regulator downed the benchmark refinancing rate 0.5 points to 8%. -0—<\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Central Bank of Armenia intends to pursue neutral monetary policy.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216,619],"tags":[15837,15865,13102,856],"class_list":["post-32261","post","type-post","status-publish","format-standard","category-banks-en-en","category-news","category-619","tag-armenia-2","tag-central-bank-2","tag-monetary-policy","tag-856"],"acf":[],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t